It's spelled brAkE, caps included for emphasis. I don't think it'd snap it but i'd want the brake closer to the wheel. Just put the flex in a vice and bend the whole thing down more so its closer.
metal fatigue.... yes mit'll snap quicker, but i recomend to prolong the snappage you bend it by hand abit further down, do this without the wheel so you can bend it so far down that it doesnt bend straight back.
Make like a spacer for the brake like get some wood and plane it to the correct thicknes and the the wholes for you're break bolt and get longer bolts like a bolt that holds skate bord trucks on they are also stronger and use the spacer under you're deck and on top of you're break there you go
maybe get some scooterzone 105 mm wheels? just an idea... bigger wheels and theyll fit the brake. maddgear flex fenders are realllllyyyyy thin so try not to risk it.